Update 2/1 06:07am: Paul Hoynes of The Plain Dealer says the chances of the Indians trading Carmona are slim.

1/29 00:16: Ken Rosenthal of FOXSports reports that the Cleveland Indians are exploring a trade of Fausto Carmona to clear money for free-agent second baseman Orlando Hudson, but it may be unlikely to happen.

Other teams interested in signing Hudson include the Nationals, who may be the front runners, and the Twins, who may be limited in cash.

Carmona, 26, was 5-12 with a 6.32 ERA in 24 starts for the Indians last season. He still has two-year remaining on his contract (expires in 2011). There are three consecutive team options in place through the end of the 2014 season. You can see Carmona’s contract history and statistics here.

Hudson, 33, hit 9 home runs, drove in 62 RBIs and had a .283 batting average with Los Angeles last season while making the All Star team and taking home a Gold Glove. You can see Hudson’s contract history and statistics here.